A Bitcoin whale has accumulated billions of dollars in ether, exceeding the second largest business cash company, signaling an increasing rotation among major investors looking for cryptocurrencies with potential more upwards.
A Bitcoin whale worth more than $ 11 billion sold $ 215 million Bitcoin (BTC) to buy $ 216 million in Ether (ETH) on the decentralized exchange hyperliquid.
With the last acquisition, the whale now has 886,371 ether, worth more than $ 4 billion, according to the Blockchain Lookonchain data platform, in a Monday X Post.
The growing demand for ether whales signals the “natural rotation” of the ether market and in other altcoins with a potential more upwards, while Ether Prix also benefits from an increasing business accumulation, told Cointelegraph Nicolai SONDERGAARD, research analyst on the Nansen crypto intelligence platform.
The Bitcoin whale of $ 11 billion began to turn its funds in Ether on August 21, when it sold $ 2.59 billion BTC for an ether ether of $ 2.2 billion and a long perpetual position of $ 577 million, Cointelegraph reported.
Last Monday, the whale closed for $ 450 million in its perpetual long position at an average ether price of $ 4,735, to lock $ 33 million in profits, before acquiring for an additional $ 108 million in Spot ether.
The rotation of several billion dollars inspired other major investors, including nine “massive” whale addresses which acquired a cumulative of $ 456 million on Wednesday, Cointelegraph reported.
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$ 11 billion Bitcoin Whale exceeds
Some cryptocurrency whales are starting to eclipse the assets of business cryptocurrency cash companies.
With the latest investment, $ 4 billion hooks of Mysterious Whale is now worth more than the Sharplink Gaming portfolio, the second corporate ether holder in the world, which currently holds more than 797,000 ETH with a value of $ 3.5 billion.
However, whale assets are still around 50% compared to the main holder of the corporate ether, ether chips of 1.8 million Bitmin Immersion ether worth more than $ 8 billion, according to strategicerthere data.xyz.
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Adding to growing demand, stock market funds (ETF) on the Ether Ether Ether have also acquired more than $ 1.8 billion in ether in the last five days of negotiation, according to data from eccentric investors.
“The institutions clearly broaden their scope beyond Bitcoin”, according to Iliya Kalchev, analyst of Digital Asset Platform Nexo.
“For the crypto, the scheme is clear: short -term movements will continue to depend on macro versions, but the structural engines of adoption, institutional entries and token finance remain intact,” said the analyst at Cointelegraph.
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